NORTHERN VERTEX REPORTS RECORD MONTHLY PRODUCTION OF 4,713 GOLD EQUIVALENT OUNCES.

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Overig advies 06/08/2020 15:57
August 6th, 2020, Vancouver, B.C. - Northern Vertex Mining Corp. (TSX.V: NEE) (OTC Nasdaq Intl.: NHVCF) (the “Company” or “Northern Vertex”) is pleased to announce record monthly production in July of 4,713 gold equivalent ounces* (4,218 gold ounces; 37,171 silver ounces) from the Company’s 100% owned Moss Gold Mine in NW Arizona.

Highlights for July include:
•4,218 gold ounces produced, the fourth consecutive monthly production increase.
•37,171 silver ounces produced, also the fourth consecutive monthly production increase.
•Operational records in all departments; daily gold production of 180 ounces, 271kt stacked, 3000gpm solution processed.
•Powerline and mining cost saving initiatives, both expected in place by Q4 and represent an estimated $4 million in annual savings relative to Q2, 2020 unit costs.
(*Gold equivalent ratio 75:1 )

Ken Berry, President and CEO commented, “The Moss Mine has hit its stride as demonstrated by our monthly operating records. The increase in gold production into a rising gold price environment is generating record revenues, which will be deployed to retire debt, reinvest to grow production, and aggressively drill to expand the current resource”.

Furthermore, “Drilling at Moss continues with the completion of 52 holes to-date, totaling 17,500 feet of a planned 60,000-foot program. The goal of the program is to: 1) identify high-grade ounces near the current pit, 2) expand the resource on strike from the Moss pit, and 3) make new discoveries that feed our hub and spoke model”.

“We thank the shareholders of Northern Vertex for their support during this rapidly evolving growth phase”.

Optimization Underway at Moss Mine:
Mine Operations
Northern Vertex is pleased to announce that McCoy & Sons, Inc. has been awarded a 3-year contract for mining and blasting operations. The terms of this agreement are expected to result in a significant reduction of mining costs.

Powerline
Construction of the 6.9-mile powerline and transformer station is 60% complete, and all poles have been erected. Management expects the system to be energized by the end of September 2020, which will reduce electrical costs by an estimated $15 to $20 million over the life of mine (see Northern Vertex news release dated April 14th, 2020).

Crusher and Leach Pad Operations
Crusher and heap leach operations continue to exceed expectations with numerous daily production records. Throughput continues well above nameplate capacity and tests are well underway to shift crush size from 1/4” to 3/8”, and when implemented, management expects a 30% increase in throughput and a significant reduction in operating costs.

COVID 19 Update
Production at the Moss Mine continues uninterrupted and the Company will continue to meet or exceed the recommendations and guidelines of public health authorities at both state and federal levels.

Qualified Person
The foregoing technical information contained in this news release has also been reviewed and verified by Mr. Joseph Bardswich, P.Eng., a director of the Company and a Qualified Person (“QP”) for the purpose of National Instrument 43-101 (Disclosure Standards for Mineral Projects).

see & read more on
https://www.northernvertex.com/news-releases/2020/northern-vertex-reports-record-monthly-production-of-4-713-gold-equivalent-ounces/



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